Coming on the heels of last year’s Jordan Challenge mode and the recent announcement that Magic Johnson, Larry Bird and Michael Jordan will each have their own cover for NBA 2K12, 2K Sports revealed the all-new “NBA’s Greatest” mode.

Featuring 15 of the league’s all-time greats, “NBA’s Greatest” will put you in control of the biggest stars during their career-defining moments in what 2K Sports’ vice president of marketing Jason Argent called “an evolution of the Jordan challenge.”

While the complete list will certainly be impressive, 2K Sports only released five of the legends who will be playable: Michael Jordan, Larry Bird, Magic Johnson, Kareem Abdul-Jabbar and Julius Erving. More announcements will come as we get closer to the game’s release.

Players will take control of each legend and lead them through one of the pivotal games in their career, but the experience will not end there. Once you complete a player’s challenge, you will unlock that classic team to use in the game’s other modes.

Argent explained the rationale behind the “NBA’s Greatest” mode and how a number of factors played a role in the decision.

“There’s always this age old debate in sports of who would win, past greats or current players. What we’ve done is embraced the debate and are looking to continue it with NBA 2K12. We want to drive the conversations and give fans the ability to answer those age-old questions,” Argent said.

Argent also discussed how much of an impact the Jordan challenge had on fans, and it left them wanting more.

“Fans really loved last year’s title, especially the Jordan challenge, so this year we listened to fans and gave them more,” Argent said.

If playing as classic players like Bird, Magic and Dr. J isn’t enough, 2K Sports is going the extra mile this year by bringing the complete classic experience to consoles.

“I remember watching games in the 80s with the overly saturated color and short shorts. Each specific game will be presented in the same way you would have seen in at the time, whether it be from the ‘60s, ‘70s or ‘80s,” Argent said.

With a team of hugely passionate basketball fans behind it, Argent said the NBA 2K franchise has “transcended video games and thrust itself into a bigger conversation about basketball and the NBA.”

It goes without saying that with a roster loaded with Hall of Famers, NBA 2K12 is certainly aiming to become a legend of its own.